Nestlé S.A. announced that, after serving the company for almost 50 years, including 11 years as CEO and 12 years as Chairman, Peter Brabeck-Letmathe did not stand for re-election after reaching the mandatory retirement age, at the AGM held on April 6, 2017. The board appointed him as Chairman Emeritus. As such he will be available for advice upon request. The shareholders elected Paul Bulcke as Chairman of the Board of Directors. They further elected Nestle CEO Ulf Mark Schneider and Ursula M. Burns, Chairman of the Board of Xerox Corporation, as new members of the Board. The Board decided to appoint Henri de Castries as Lead Independent Director, who will chair Board meetings and (i)in camera (/i)sessions when the Chairman is not present or conflicted.